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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.21

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To: dennis michael patterson who wrote (38981)	2/3/2000 9:47:00 PM
From: bobby beara	Read Replies (4) of 99985

Dennis, we are near the top of the nas trading range, there are a lot of stocks that have bases they've developed since mid-december, nok and sunw are among of a few of the big guys, and some semis just broke out of these bases, like txn. qcom looks like it is trying to take out the archipelago and confirming an abc correction. from looking at several of these stocks, i am backing off of my countertrend rally or trading range theory, the nasdaq printed a hammer on monday and everybody and his brother was bearish over last weekend. i believe we may have seen an ABC correction in the techs from the jan high. sox and nwx have already broken out of that formation we need a follow thru breakout over the next couple of days to confirm a new upleg in nasdaq. when you see the sentiment change from amazon the wave of the future, to amazon the POS looser internet squat, back to amazon the wave of the future, one should pay attention. b

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